49ers & Broncos Have Parameters Of Trade Agreement Involving Colin Kaepernick, Contract Still An Issue

Update:

Mike Florio of Pro Football Talk, citing a source with knowledge of the situation, reports that the 49ers and Broncos do not currently have an agreement in place regarding trade compensation for QB Colin Kaepernick, despite the previous report.

Florio’s source referred to the notion that Kaepernick restructuring his contract is the only thing holding up a trade as a “real stretch.”

In fact, Florio’s source says that this was only reported because “someone wanted it out there”, implying that the information was leaked from someone who wanted to see the deal get done.

Given that the Broncos are reportedly asking Kaepernick to restructure his contract and take a pay cut in the process, it seems like a safe bet that Florio’s source is suggesting the news came from them.

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Ian Rapoport reports that the two teams haven’t reached an agreement on draft compensation for a trade involving QB Colin Kaepernick.

• Rapoport adds that the Broncos and Kaepernick have yet to reach a deal on a restructured contract, and the meeting between Kaepernick and John Elway didn’t resolve their current issues.
• Adam Schefter points out that the big issue here is convincing Kaepernick to agree to less guaranteed money to facilitate a trade.
• Mike Klis doesn’t understand the characterization of an “agreement” being in place, seeing as a mid-round pick can be anything between a third-, fourth- or fifth-round pick.

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ESPN’s Adam Schefter reports that the 49ers and Broncos have reached an agreement on the  parameters of trade agreement involving QB Colin Kaepernick.

According to Schefter, Kaepernick and the Broncos still need agree on a restructured contract, but the two sides reportedly are not close as of now. The expectation is that the Kaepernick and the Broncos will continue to work on a restructured contract to see if they can bridge their contractual differences.

In regards to trade compensation, Schefter says that this won’t be an issue, as the Broncos and 49ers have an agreement in place that would send Kaepernick to Denver for what is expected to be a mid-round pick.

• Jason Cole mentions that this report is being viewed around the league as a way of forcing Kaepernick to agree to rework his deal and complete a trade to the Broncos.
• Pro Football Talk also predicts that Elway will hold firm on his offer to Kaepernick until he agrees to take less or get the 49ers to pay the difference.

Earlier in the day, Eric Branch of the San Francisco Chronicle reported that Kaepernick met with Broncos general manager John Elway at Elway’s house in the Denver area on Thursday.

This doesn’t qualifying as tampering, considering that the 49ers have given Kaepernick permission to continue exploring a potential trade out of San Francisco.

Jason Cole of B/R previously reported that the Broncos have asked Kaepernick to reduce his salary from $11.9 million to approximately $7 million for the 2016 season as part of a trade.

Kaepernick, 28, is in the third year of his seven-year, $126.97 million contract that included $61 million guaranteed and stands to make a base salary of $13.9 million for the 2016 season.

While those numbers are impressive on their own, the contract is essentially a pay-as-you-go agreement that includes ways for San Francisco to walk away with limited repercussions, as long as Kaepernick is healthy.

According to OverTheCap.com, trading Kaepernick would free up $8,493,493 in available cap space and create $7,397,260 in dead money.

In 2015, Kaepernick threw for 1,615 yards while completing 59.3 percent of his passes to go along with six touchdowns and five interceptions over the course of eight games. He also added 228 yards rushing and a touchdown.

We’ll have more regarding a Kaepernick trade as the news is available.